|Bid||56.46 x 1100|
|Ask||56.45 x 1800|
|Day's Range||56.32 - 56.71|
|52 Week Range||47.73 - 59.55|
|Beta (3Y Monthly)||1.07|
|PE Ratio (TTM)||12.49|
|Forward Dividend & Yield||2.23 (3.96%)|
|1y Target Est||64.12|
(Bloomberg) -- Oil posted a weekly loss amid concerns over a slowing global economy and abundant crude supplies.Futures in New York fell 1.7% this week. China reported the slowest pace of economic growth since the early 1990s last quarter, and U.S. government data a day earlier showed American crude inventories expanding.“The oil market continue to be incredibly focused on demand and we continue to see indications of ‘luke warm’ oil at best,” said Leo Mariani, energy analyst at Keybanc Capital Markets in Dallas. “We’ve seen a lot of business investment freeze up and that has impacted oil investments.”U.S. crude inventories rose by 9.3 million barrels in the week through Oct. 11, according to data from the Energy Information Administration, surpassing analyst estimates of a 3 million-barrel increase.“The reality is that crude markets are still struggling with prospect of substantial surplus in next year, which is expected but is very much in line with what growth data is highlighting,” said Daniel Ghali, commodity strategist at TD Bank in Toronto. “There’s starting to be a worry out there on how much OPEC can do to offset it.”WTI for November delivery fell 15 cents to settle at $53.78 a barrel on the New York Mercantile Exchange.Brent crude for December settlement lost 49 cents to end the session at $59.42 a barrel on the London-based ICE Futures Europe. The global benchmark fell 1.8% this week and was at a premium of $5.55 to WTI for the same month.China’s gross domestic product trailed estimates and added to a deteriorating global demand outlook for crude. With a drop-off in exports to the U.S. expected to continue due to the trade war, the Chinese economy is likely to keep struggling as deflationary pressures hit company profits.“The demand outlook is a question mark since the overnight data out of China wasn’t great,” John Kilduff, partner at hedge fund Again Capital LLC in New York, said in a telephone interview. “The slowness in GDP didn’t help things and the market is still battling that.”To contact the reporter on this story: Jacquelyn Melinek in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Marino at email@example.com, Mike Jeffers, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Benzinga is highlighting nominees for the fifth annual Benzinga Global Fintech Awards ahead of the event Nov. 19 in New York City. Launched in 1997, the Arizona-based fintech aims to bring financial apps and exchanges to market at less cost and higher speed. The U.S.-based developer of high-performance trading technologies recently announced the launch of a high-frequency exchange solution that allows exchanges to scale more than 10 million transactions per second with less than 40-nanosecond latency.
Regions Bank is targeting Orlando as one of its growth markets in the coming years, which means it will expand both its staff and physical footprint here. The Birmingham, Alabama-based bank (NYSE: RF) a few years ago identified four future growth markets, including Orlando, St. Louis and Atlanta. The company saw an opportunity with those markets to expand their footprint and market share in each, including in Orlando where it has the sixth-largest market share among all banks, John Turner Jr., CEO of parent company Regions Financial Corp., told Orlando Business Journal That strategy in targeting Orlando will include seven to nine new branches in the next 12-36 months.
Moody's Investors Service (Moody's) has assigned a Aa1 enhanced rating to Custodial Receipts (TD Bank), Custodial Receipts Series 2019-1A and 2019-1B evidencing beneficial ownership of California Municipal Finance Authority Revenue Bonds (University of La Verne) Series 2017A (Tax-Exempt) (the Bonds).
TD Announces Results of Conversion Privilege of Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 1 (NVCC)
(Bloomberg) -- Signs of pressure in dollar funding markets are reappearing, with rates for repurchase agreements at elevated levels and the Federal Reserve’s overnight operation coming in fully subscribed for the first time in three weeks.The New York Fed took $75 billion of securities in its overnight system repurchase agreement operation Wednesday, according to its website. That was the maximum amount on offer for the action and less than the $80.35 billion in bids it received. The last time such an overnight offering was fully subscribed was Sept. 25.The rate on overnight general collateral repo was around 2.15% on Wednesday morning in New York, according to ICAP data. That’s above the range of 1.75%-2.00% that the central bank currently maintains for the federal funds rate, a separate short-term benchmark that it targets for monetary policy.“This tells you there’s some residual stress in the market and the problem is not fixed,” said Gennadiy Goldberg, senior rates strategist at TD Securities. “This is why the Fed is so keen to start bill purchases and very keen to continue repo operations.”Overnight repo rates were also above 2% the previous day, climbing to around 2.28% on Tuesday afternoon as the additional collateral in the market generated by settlements of recent Treasury auctions increased pressure. An unwinding of trading positions in the wake of a three-day weekend for the U.S. bond market may also have had an impact.The increase in repo rates comes even as the central bank continues with the various repo operations that it’s been conducting since Sept. 17, although they remain well below the record levels reached last month that prompted the Fed to step in in the first place. The episode back then saw the rate on overnight repos jump to around 10%, but it subsequently moved back to more normal levels below 2%.The Federal Reserve Bank of New York’s next term repo operation is scheduled to take place Thursday.The central bank is also scheduled to begin buying Treasury bills from Wednesday as part of its effort to improve its control over short-term rates, having announced the $60-billion-a-month plan last week.“The Fed hasn’t fixed the underlying causes, only the symptoms,” Goldberg said. “Today they’ll start fixing the causes.”(Adds analyst comment.)To contact the reporter on this story: Alexandra Harris in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Benjamin Purvis at email@example.com, Debarati RoyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
WILMINGTON, N.C., Oct. 10, 2019 /PRNewswire/ -- nCino, the worldwide leader in cloud banking, today announced that it has been selected as the winner of a 2019 IDC FinTech Rankings Real Results Award in the "Lending Transformation" category. Now in its fifth year, the IDC FinTech Rankings Real Results Awards recognize IT providers that have enabled a genuine, measurable and future-enabling change at a client financial institution in the worldwide financial services industry.
(Bloomberg) -- The hunt for yield is still on in emerging markets. And as that plays out, expect Asia to outperform.Those are the main findings of Bloomberg’s quarterly survey of 54 global investors, strategists and traders on their outlook for developing-nation assets.The trade dispute between the U.S. and China remains a key concern, with new round of negotiation due this week. But looser monetary policy among major central banks will still push investors toward riskier assets over the rest of the year, according to the survey. Stocks and bonds in Asia have the brightest prospects, while the Brazilian real and Russian ruble were the top picks for currencies. Argentina was the least-favored nation for all asset classes.“The direction of global growth is pointing downward and that’s a negative for risk assets,” said Satoru Matsumoto, a Tokyo-based fund manager at Asset Management One Co., which oversees about $500 billion. “But we all have to find higher yields somewhere.”Below are the results of the Sept. 19 - 30 survey. Click here to read the previous poll.Survey ResultsEmerging-market assets have just come through what was their worst quarter in 2019, as investors fretted over trade wars and the rising risk of a global recession. MSCI Inc.’s index of currencies is poised for a second yearly loss, while a measure of stocks is holding on to a 3.2% gain for the year. With central banks turning more dovish and inflation in emerging markets slowing, a Bloomberg Barclays index of local-currency bonds is still keeping a year-to-date gain of 4.7%.After the U.S. Federal Reserve cut interest rates for a second time this year in mid-September, emerging-market watchers shifted their focus to the trade war. The imposition of tariffs has hit growth in emerging markets, prompting authorities into action to contain the fallout. The World Trade Organization reduced its global trade-growth forecast for 2019 to the weakest level in a decade, while the International Monetary Fund expects a more significant economic slowdown than it did three months ago.Read more: China Narrows Scope for Trade Deal With U.S. Ahead of TalksAsia kept its top positions for currencies and stocks and overtook Latin America for bonds. Europe, the Middle East and Africa remained the least favored region across all asset classes.The Brazilian real’s become the EM currency most likely to outperform, while Asian high-yielder Indonesia remained the top pick for bonds. For equities, China kept the No. 1 ranking for the third straight quarter, while India overtook Brazil as the second-most favored stock market.Finally, here is the outlook for inflation, monetary policy and economic growth across 12 emerging markets:The survey participants:Aberdeen Standard InvestmentsADM Investor ServicesAllianceBernstein Holding LPAperture Investors LLCARX InvestimentosAsset Management One Co.Auerbach Grayson & Co. LLCAviva Investors Global ServicesAxiTrader Ltd.Banco Bilbao Vizcaya Argentaria SABNP Paribas Asset ManagementBoston Private Wealth LLCBulltick LLCCapitulum Asset Management GmbHCIMB Group Holdings Bhd.Commerzbank AGCredit AgricoleDBS Group Holdings Ltd.Deltec Asset Management LLCDeutsche Bank AGDeutsche Bank Wealth ManagementEFG HermesEmerginomicsFidelity InternationalFujitomi Co.FXTMGAM InvestmentsGW&K Investment Management LLCInfinity Asset ManagementKasikornbank PclKrung Thai Bank PclLegal & General Investment ManagementManulife Asset ManagementMirae Asset Wealth ManagementMizuho Bank Ltd.Mizuho Research Institute Ltd.Monex Europe Ltd.NEPC LLCNeuberger Berman Group LLCNN Investment Partners BVNomura Asset Management Co.Nordea Bank ABOffice Fukaya, Research & ConsultingRaiffeisen Bank International AGSBI Securities Co.Schroders PlcSeaport Global Holdings LLCSociete Generale SASumitomo Mitsui DS Asset Management Co.TD SecuritiesTIAATrafalgar InvestimentosVanguard Asset ManagementWisdomTree Investments Inc.(Updates prices in sixth paragraph.)\--With assistance from Tomoko Yamazaki, Aline Oyamada, Adrian Krajewski, Áine Quinn, Ben Bartenstein, Colleen Goko, Josue Leonel, Justin Villamil, Lilian Karunungan, Paul Wallace and Matt Turner.To contact the reporters on this story: Yumi Teso in Bangkok at firstname.lastname@example.org;Marcus Wong in Singapore at email@example.com;Selcuk Gokoluk in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Tomoko Yamazaki at email@example.com, Paul WallaceFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Moody's Investors Service ("Moody's") today affirmed the ratings of TD Ameritrade Holding Corporation (TD Ameritrade, A2 senior). The rating outlook for TD Ameritrade is stable. Moody's has also withdrawn the instrument-level outlooks on TD Ameritrade's senior unsecured debt ratings and Issuer rating for its own business reasons.
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"I can think of two significant clients that we have that are automating because they're concerned about the ability to just hire people," said James Gaspo, TD Bank's regional vice president for the greater Capital Region of New York. "They're being forced to automate, to keep up with the demand for their services with a flat labor pool."
TD Bank Group Comments on Expected Impact of TD Ameritrade Holding Corp.'s Decision to Eliminate Online Trading Commissions
TD Announces Dividend Rates on Non-Cumulative 5-Year Rate Reset Preferred Shares, Series 1 (NVCC) and Non-Cumulative Floating Rate Preferred Shares Series 2 (NVCC)
CHERRY HILL, N.J., Oct. 1, 2019 /PRNewswire/ -- Millennials value financial openness in their relationships, with 31 percent saying they would consider breaking up with their partner if they discovered hidden debt or a bad credit score, according to the fifth annual Love and Money Survey by TD Bank, America's Most Convenient Bank®. The survey revealed that more than one-in-four (27 percent) millennials currently keep a financial secret from their partner – more than any other generation. The biggest financial secret is significant credit card debt, with 43 percent of all respondents hiding debt, and millennials leading the pack at 48 percent.
CHERRY HILL, N.J., Oct. 1, 2019 /PRNewswire/ -- TD Bank, America's Most Convenient Bank®, today announced that Kafi Lindsay has joined the bank's growing Community Development team. In this role, Lindsay will be responsible for developing strategies and designing programs in support of TD's Community Reinvestment Act (CRA) goals throughout Pennsylvania and New Jersey. Lindsay most recently served as Market Manager for Community Development Banking at PNC Bank, where she oversaw the creation and implementation of local programs, loans and investments for nonprofits serving low- and moderate-income communities.
(Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes.Canada’s economy unexpectedly stalled in July, a result that could raise concern the nation isn’t immune to the broader global slowdown.Gross domestic product was unchanged in July from a 0.2% gain in June, Statistics Canada said Tuesday from Ottawa. The figure missed a 0.1% gain expected in a Bloomberg Survey of economists. A drop in oil and gas extraction was the main contributor to the slowdown in GDP, falling 3% in July, the largest monthly decline since 2016.The latest GDP reading may stoke worries about a sharper than expected slowdown in the second half of the year, and increase pressure on the Bank of Canada to cut rates. While Canada saw growth accelerate in the second quarter to an annualized pace of 3.7%, some of the strength was temporary. There are also worries mounting global economic uncertainty is beginning to weigh on Canada’s expansion. Economists anticipate second half growth will slow to about 1.5%. “This adds to our anticipation that the Bank of Canada’s next move will be a cut in rates after poor growth in three of the last four quarters,” said Brett House, deputy chief economist at Scotiabank.Markets aren’t so sure and are only pricing in a 10% chance the bank will cut during October’s monetary policy report.”If it weren’t for the drag from the energy/mining sector, we’d have had a repeat of June’s solid performance, even with the relative lack of growth breadth,” said Brian DePratto, senior economist at Toronto-Dominion Bank. “If you’re looking for generalized weakness in Canada’s economy, today’s report ain’t it.”Key InsightsIt’s the first print of the third quarter and the result surprised to the downside, and was the fourth straight month growth either decelerated or was flatA slowdown in mining, quarry and oil and gas extraction was responsible for the majority of the decline, contracting 3.5% in July; the largest decrease for the industry since May 2016The decrease was isolated to 7 of the 20 sectors recording lower outputCanada’s currency fell after the report was released, and was trading down 0.3% at C$1.3281 against its U.S. counterpart at 8:55 a.m. Toronto time.Get MoreThe shutdown of some of Newfoundland and Labrador’s offshore production facilities for maintenance issues negatively impacted oil and natural gas activity in JulyOther sectors contributing to the month’s weak figures include manufacturing, down for the second straight month, and constructionPositive additions to GDP were wholesale trade, which rose 1.1%, led by personal goods and motor vehiclesOn an aggregate basis, goods-producing industries dropped 0.7%, the second consecutive decline, while services-producing sectors repeated June’s expansion, rising 0.3%On an annual basis, output rose 1.3% in July\--With assistance from Erik Hertzberg.To contact the reporter on this story: Shelly Hagan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Theophilos Argitis at email@example.com, Chris FournierFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TD Asset Management Inc. Announces Results of Unitholder Meetings and Changes to its Mutual Fund Line-up